Federal Bank shares jump nearly 8 pc after Q2 earnings

Shares of Federal Bank on Friday zoomed nearly 8 per cent after the company reported a nearly 55 per cent jump in consolidated net profit for the September quarter.

The stock jumped 7.77 per cent to close at Rs 104.05 on BSE. During the day, it zoomed 9.37 per cent to its 52-week high of Rs 105.60.

On NSE, it gained 7.61 per cent to Rs 103.90.

Private sector lender Federal Bank on Friday reported nearly 55 per cent jump in its consolidated net profit at Rs 488 crore for the second quarter ended September 30.

The bank had posted a net profit of Rs 315.70 crore in the year-ago period.

Total income (consolidated) during the July-September period was down at Rs 4,013.46 crore, as against Rs 4,071.35 crore in the corresponding period of FY21, Federal Bank said in a regulatory filing.

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